You are here

Analysis of Cost Change in Air Force Construction Projects from Planning to Completion

Title: Analysis of Cost Change in Air Force Construction Projects from Planning to Completion.
69 views
38 downloads
Name(s): Barnes, Robert J., author
Sobanjo, John O., professor directing thesis
Abdelrazig, Yassir, committee member
Spainhour, Lisa, committee member
Department of Civil and Environmental Engineering, degree granting department
Florida State University, degree granting institution
Type of Resource: text
Genre: Text
Issuance: monographic
Date Issued: 2012
Publisher: Florida State University
Place of Publication: Tallahassee, Florida
Physical Form: computer
online resource
Extent: 1 online resource
Language(s): English
Abstract/Description: Construction is a major industry in the United States. In 2010, over $506 billion was spent in construction and construction-related activity, amounting to over 3.4% of Gross Domestic Product (GDP). $21.2 billion, or 0.6% of federal outlays for 2010 was spent on military construction. This accounts for nearly 4% of total construction annually. This study examined three variables in the life of an Air Force military construction (MILCON) project: the programmed amount (PA), the contract award (CA), and the final current working estimate (CWE). These variables, respectively, reflect the initial planning budget (PA), the actual contractor's estimate and bid (CA), and the final, actual cost of the project to the Air Force (CWE). Statistical hypothesis tests showed there is an appreciable difference between each variable. Generally speaking, the PA is higher than the CA, but the CWE approaches the PA at end of the project. The study suggests several reasons for this, including contractor estimate errors or "bad faith", non-inclusion of inflation, and initial estimate inaccuracy. The results of this study can be used to better analyze contractors' bids as well as initial budgetary estimates to get a more accurate picture of the cost of a particular MILCON project.
Identifier: FSU_migr_etd-5317 (IID)
Submitted Note: A Thesis submitted to the Department of Civil and Environmental Engineering in partial fulfillment of the requirements for the degree of Master of Science.
Degree Awarded: Fall Semester, 2012.
Date of Defense: November 5, 2012.
Keywords: Cost Engineering, Government Construction, Military Construction
Bibliography Note: Includes bibliographical references.
Advisory Committee: John O. Sobanjo, Professor Directing Thesis; Yassir Abdelrazig, Committee Member; Lisa Spainhour, Committee Member.
Subject(s): Civil engineering
Environmental engineering
Persistent Link to This Record: http://purl.flvc.org/fsu/fd/FSU_migr_etd-5317
Owner Institution: FSU

Choose the citation style.
Barnes, R. J. (2012). Analysis of Cost Change in Air Force Construction Projects from Planning to Completion. Retrieved from http://purl.flvc.org/fsu/fd/FSU_migr_etd-5317